ETH broke out of the linear regression channel a few days ago with:
Divergence on the MACD Sky-high inertia ADX says highly trending RSI says overbought but rest of the indicators says nobody cares Squeeze momentum is green for one more day -> small window to buy in today and catch a short term play to the local peak.
Monday we will see a run to 232-235 is my guess, then a small to medium sized correction will happen, perhaps down to 226-228. However, there may not even be a correction based on the strong MACD divergence and inertia happening on the day chart. My recommendation is to buy in at 225-226 today.
If ETH breaks below 210 we will see a major correction downwards, but this is unlikely. Stop loss set to 215-218 should be sufficient.
Side notes: ETH/BTC is going ballistic, upwards, with Ethereum gaining strength relative to Bitcoin. The waters of crypto are shifting. If Bitcoin corrects heavily in the next few days, traders who wish to keep their money in the crypto-space will move their funds from Bitcoin to altcoins -> Ethereum will see a major rise because of this. I have been holding ETH since 131 in early January. The gains have been phenomenal. Ethereum will rise to 270-300 in my opinion, based on long term technical analysis (week and month charts) and market factors. A solid argument concerning Ethereum > Bitcoin as a currency is that Ethereum transaction times are much, much faster than Bitcoin's. In terms of long term adoption based on real world use cases, Ethereum is the future of crypto, whereas Bitcoin is a relic of the past.